2. Consider an infinitely repeated Bertrand oligopoly game with dis- count factor d < 1. The unit cost of production is a constant c = 0.2 and the same for all n > 2 firms. There are no fixed costs. Describe a form of “trigger” strategies that can facilitate tacit collu- sion in pricing. Determine the condition under which such strategies can sustain the monopoly price in each of the following cases: (a) The market demand in each period is D (p) = 1- p. (Calculate the monopoly price and profit explicitly in your answer.)

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